The funds Siparex Midcap 1 (managed by Sigefi, the management company of the Siparex Group) and CERAE (a growth capital fund of Caisse d’Epargne Rhone-Alpes, managed by Rhone-Alpes PME Gestion) invested €3.8m. The two funds joined the group’s exsisting investors Avenir Entreprises and Institut Lorrain de Participations, both of which made significant follow-on investments.

The group’s Management and Société 5F also took part in the deal.

According to a statement, the €6.5m investment will be used to accelerate Labellemontagne’s growth, “both in-house, by giving it the capacity to pursue its investments in existing ski resorts, and via acquisitions aimed at consolidating the group’s position in the Alps”.